Robeco Institutional Asset Management B.V. Reduces Holdings in AppLovin Corporation $APP

Key Points

• Robeco Institutional Asset Management trimmed its AppLovin stake by 33.1% in Q4, selling 12,715 shares and now holding 25,648 shares worth about $17.28 million.
• Significant insider selling has occurred recently: CTO Vasily Shikin sold 62,804 shares for roughly $30.55 million and CEO Arash Foroughi sold 50,000 shares for about $23.3 million, with insiders offloading 365,244 shares (~$169.6M) in the past 90 days.
• Wall Street remains mostly positive (19 Buys vs. 5 Holds) with an average target of $661.95, despite the stock trading near $433 and declining about 41% year-to-date.

Robeco Institutional Asset Management B.V. trimmed its holdings in shares of AppLovin Corporation (NASDAQ:APP - Free Report) by 33.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,648 shares of the company's stock after selling 12,715 shares during the period. Robeco Institutional Asset Management B.V.'s holdings in AppLovin were worth $17,282,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Chilton Capital Management LLC purchased a new position in shares of AppLovin during the 3rd quarter worth approximately $29,000. Board of the Pension Protection Fund purchased a new position in shares of AppLovin during the 4th quarter worth approximately $27,000. Activest Wealth Management increased its stake in shares of AppLovin by 760.0% during the 3rd quarter. Activest Wealth Management now owns 43 shares of the company's stock worth $31,000 after purchasing an additional 38 shares in the last quarter. Heartwood Wealth Advisors LLC purchased a new position in shares of AppLovin during the 3rd quarter worth approximately $33,000. Finally, CBIZ Investment Advisory Services LLC increased its stake in shares of AppLovin by 58.6% during the 3rd quarter. CBIZ Investment Advisory Services LLC now owns 46 shares of the company's stock worth $33,000 after purchasing an additional 17 shares in the last quarter. 41.85% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at AppLovin

In related news, CTO Vasily Shikin sold 62,804 shares of AppLovin stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $486.43, for a total transaction of $30,549,749.72. Following the transaction, the chief technology officer owned 3,255,273 shares in the company, valued at approximately $1,583,462,445.39. The trade was a 1.89% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Arash Adam Foroughi sold 50,000 shares of AppLovin stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $466.04, for a total transaction of $23,302,000.00. Following the transaction, the chief executive officer owned 2,480,414 shares in the company, valued at $1,155,972,140.56. The trade was a 1.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 365,244 shares of company stock worth $169,584,607. 13.66% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Piper Sandler restated an "overweight" rating and set a $650.00 target price (down from $800.00) on shares of AppLovin in a research report on Thursday, February 12th. Arete Research set a $340.00 target price on shares of AppLovin and gave the stock a "neutral" rating in a research report on Monday, March 2nd. Benchmark restated a "buy" rating on shares of AppLovin in a research report on Friday, March 6th. Evercore restated a "buy" rating on shares of AppLovin in a research report on Friday, January 30th. Finally, Jefferies Financial Group decreased their target price on shares of AppLovin from $860.00 to $700.00 and set a "buy" rating on the stock in a research report on Thursday, February 12th. Nineteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, AppLovin has an average rating of "Moderate Buy" and an average target price of $661.95.

AppLovin Stock Performance

NASDAQ:APP opened at $433.29 on Wednesday. The company has a current ratio of 3.32, a quick ratio of 3.32 and a debt-to-equity ratio of 1.65. The firm has a market capitalization of $146.14 billion, a price-to-earnings ratio of 44.44, a PEG ratio of 0.72 and a beta of 2.50. The firm's fifty day simple moving average is $424.67 and its 200 day simple moving average is $550.60. AppLovin Corporation has a twelve month low of $222.02 and a twelve month high of $745.61.

AppLovin (NASDAQ:APP - Get Free Report) last posted its earnings results on Wednesday, February 11th. The company reported $3.24 earnings per share for the quarter, beating the consensus estimate of $2.89 by $0.35. The business had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.61 billion. AppLovin had a net margin of 57.42% and a return on equity of 245.64%. The business's quarterly revenue was up 66.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.73 EPS. As a group, equities research analysts expect that AppLovin Corporation will post 6.87 earnings per share for the current fiscal year.

AppLovin Company Profile

AppLovin Corporation is a Palo Alto–based mobile technology company that provides software and services to help app developers grow and monetize their businesses. The company operates a data-driven advertising and marketing platform that connects app publishers and advertisers, delivering tools for user acquisition, monetization, analytics and creative optimization. AppLovin's technology is integrated into a broad set of mobile applications through software development kits (SDKs) and ad products designed to maximize revenue and engagement for developers.

Key components of AppLovin's offering include an ad mediation and exchange platform that enables publishers to manage and monetize inventory across multiple demand sources, and a user-acquisition platform that helps advertisers target and scale campaigns.

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